Prices of several tea varieties at Kochi auctions declined this week, leading to heavy withdrawals owing to low and lack of bids.
The market for select best in CTC dust grades barely remained steady, while others were irregular and lower by ₹3-7 a kg and more as the sale progressed following quality.
In sale no 19, the quantity on offer in CTC grades was 12,96,500 kg, low compared to last week. Exporters confined to medium and plainer varieties, the auctioneers Forbes, Ewart & Figgis said.
With less demand, the quantity on offer in orthodox grades was also at 14,500 kg. In Cochin CTC dust quotation, good varieties quoted ₹90-134, mediums fetched ₹72-105 and plain grades stood at ₹57-65.
The demand for CTC leaf was less at 81,000 kg. The market for Good Liquoring teas barely remained steady. Others were irregular and lower by ₹5-7 and also witnessed heavy withdrawals. Upcountry and Kerala buyers were the mainstay in the market while exporters subdued.